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Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

SAFEEN, Amaan Baghdad sign MoU

The project relates to fuel oil transport and storage from Khor Al Zubair and Umm Qasr oil terminals in Iraq. (WAM)
  • SAFEEN Feeders, a subsidiary of SAFEEN Group, will manage the entire project, providing three Very Large Crude Carriers (VLCCs) and one Medium Range (MR) tanker.
  • SAFEEN Feeders will transport fuel oil from terminals in Port of Khor Al Zubair and Umm Qasr South Port to Iraqi territorial waters using the MR tanker.

Abu Dhabi, UAE— AD Ports Group’s SAFEEN Group and Amaan Baghdad Company have signed an agreement to support a new project relating to fuel oil transport and storage from Khor Al Zubair and Umm Qasr oil terminals in Iraq.

Under the terms of the agreement, SAFEEN Feeders, a subsidiary of SAFEEN Group, will manage the entire project, providing three Very Large Crude Carriers (VLCCs) and one Medium Range (MR) tanker.

Working with Amaan Baghdad Company, SAFEEN Feeders will transport fuel oil from terminals in Port of Khor Al Zubair and Umm Qasr South Port to Iraqi territorial waters using the MR tanker. The fuel oil will then be transferred and stored on the VLCCs, which will serve as floating fuel tanks with a monthly delivery capacity of 750,000 tons.

Captain Ammar Mubarak Al Shaiba, Acting CEO of the Maritime Cluster and SAFEEN Group, AD Ports Group, said, “The energy sector is an important growth market for SAFEEN Group, and this project demonstrates our expertise in this area as well as the extent and sophistication of our fleet.

Fadie Fouad, CEO of Amaan Baghdad Company, stated, “We have selected SAFEEN Group based on its comprehensive suite of world-class marine services and the expertise of the dedicated team who will manage this project.”